Members of the European Parliament have reached an agreement on the terms of renewing a trade deal with the United States, work on which was suspended due to threats of tariffs related to the issue of Greenland. At a closed meeting on Tuesday, February 10, lawmakers agreed on the final details of the document. This was reported by Reuters, writes UNN.
Details
The proposal is based on a political agreement reached by European Commission President Ursula von der Leyen and Donald Trump in Turnberry last July. According to the document, the European Union undertakes to completely abolish tariffs on industrial goods from the United States, while the American side will set a single rate of 15% on most goods from the EU. This agreement will be valid for 24 months – until March 2028, which was a compromise term between the demands of various political groups of the parliament.
Key innovations were the protective mechanisms, which the head of the trade committee Bernd Lange called "the five Ps." They include a clause on the possibility of immediate suspension of preferences in case of new threats to the territorial integrity of the EU or attempts of "tariff blackmail" by Washington.
In practice, this means that the EU will have a new tool to respond
Resolving the steel dispute and voting schedule
Lawmakers paid special attention to the conflict over steel products. Since the US violated previous agreements by imposing additional duties on European steel, the European Parliament agreed on a mechanism for automatically introducing countermeasures. If Washington does not lift these restrictions within the next six months, the EU will automatically impose tariffs on American steel products.
The schedule for further steps has already been determined: on February 24, 2026, a vote will take place in the relevant committee, which will pave the way for plenary approval of the agreement in March. EPP MEP Željana Zovko noted that this agreement will provide the necessary stability for European businesses, which have been threatened by recent volatility in trade relations. More active participation of the Parliament in monitoring the implementation of the agreement should guarantee the US's compliance with its obligations.